Data collected on a sample of individuals with different characteristics at a specific point in time are called:

Refer to the scenario above. After the implementation of the tax, Thomas's expenditure on wine will:

A) remain the same. B) increase by $50. C) decrease by $50. D) increase by $100.

In the economic way of thinking, government consists of many different people interacting on the basis of

A) fear. B) legal guarantees. C) prevailing property rights. D) public interests.